Texas Acting Comptroller Kelly Hancock appointed four outside members to the state's Strategic Bitcoin Reserve Advisory Committee on Thursday as the state moves forward with one of the first U.S. bitcoin reserves.
Created under Senate Bill 21, the five-member committee, which includes Hancock, will advise the comptroller on recommendations related to bitcoin valuation, custody, and risk and reserve management.
"The Legislature gave the Comptroller's office a clear responsibility to administer the Texas Strategic Bitcoin Reserve, and that work must be done with transparency, security and strong financial controls," Hancock said in a statement. "This advisory committee brings together the kind of expertise needed to help the state carry out that direction carefully, responsibly and in the best interest of Texas taxpayers."
The appointees include CleanSpark CFO and president Gary Vecchiarelli, Cormint Data Systems founder and CEO Jamie McAvity, Southern Methodist University law professor Carla Reyes, and investment executive Laurie Dotter.
McAvity leads the Texas-based bitcoin mining firm Cormint, which operates a 130-megawatt facility in Fort Stockton.
